IT Sector Leads the Pack as Pakistan Registers 5,003 New Companies in a Month - ProPakistani

The Securities and Exchange Commission of Pakistan (SECP) registered 5,003 new companies in October, taking the total number of registered companies in the country to 321,794. The commission said 99.9 percent of the companies were registered online.

Among the newly registered companies, 55.4 percent were private limited companies and 41.6 percent were single member companies.

Punjab led with 2,663 new registrations, followed by Islamabad with 934 and Sindh with 751. Khyber Pakhtunkhwa recorded 382 new companies, Gilgit Baltistan 162, and Balochistan 111.

The information technology sector remained the top choice for new registrations in October. A total of 991 companies were registered in information technology, followed by 767 in trading, 594 in services, and 295 in construction. The food and beverages sector saw 219 new companies, tourism 213, and real estate 170.

A total of 173 foreign investors participated in newly incorporated companies during October. Investors from China numbered 129, followed by Germany with 6, the United States with 5, and the United Kingdom with 3. Turkey, Canada, Brazil, Afghanistan, Nigeria, Hong Kong, the United Arab Emirates, and the Netherlands each accounted for two investors, while 14 came from other countries. The total included five foreign corporate entities, with the remaining participants recorded as individuals. Women participation in companies as shareholders and directors stood at 13 percent.

The SECP said the increase in company registrations is a reflection of growing investment in the country. SECP Chairman Dr. Kabir Ahmed Sidhu said the commission is digitalizing corporate compliance to make doing business easier in the country. Dr. Sidhu said that the more new companies are formed, the more new employment opportunities will be created in the country.

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